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![Misleading Advice by Auditor Led to Excess Income Tax Payment: ITAT Orders Rectification [Read Order] Misleading Advice by Auditor Led to Excess Income Tax Payment: ITAT Orders Rectification [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Bangalore-ITAT-Orders-Excess-Income-Tax-Excess-Income-Tax-Payment-Auditor-Taxscan-.jpg)
Misleading Advice by Auditor Led to Excess Income Tax Payment: ITAT Orders Rectification [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) of Bangalore in a recent case ordered rectification of the revised return filed by the assessee, observing...
Subscription Fees from cloud Services not Taxable as Royalty in India under India-Ireland DTAA: ITAT [Read Order]
In a recent ruling, the Income Tax Appellate Tribunal (ITAT) of Delhi held that subscription fees from cloud services are not taxable as royalty in India under the India -Ireland Double Taxation...
Overreach beyond Limited Scrutiny Jurisdiction: ITAT quashes PCIT’s Order u/s 263 of Income Tax Act [Read Order]
The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) recently quashed an order passed under section 263 of the Income Tax Act 1961 ( ITAT )Â by the Principal Commisioner of Income Tax ( PCIT )...
Relevant Information Sought by AO Not Provided by Assessee: ITAT Restores Matter to AO for Fresh Adjudication [Read Order]
Recently, the Income Tax Appellate Tribunal (ITAT) of Delhi restored a matter back to the Commissioner of Income Tax (Appeals) [CIT (A)] for fresh adjudication as ex parte order was passed without...
Deduction u/s 54 of IT Act allowable even if Old Sale Proceeds not Reinvested in New Asset Acquisition: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) recently ruled that deduction under section 54 of Income Tax Act 1961 ( ITA ) is allowable even if proceeds from sale of old property is...
Prepaid Finance Charges Deductible in Year of Payment, Amortization Not Necessary: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) in a recent case ruled that prepaid finance charges made for business purposes are deductible in the year of payment, and thus amortization is not necessary. ...